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Government Lays Groundwork To Confiscate Your 401k and IRA

NomadacNomadac Senior MemberCentral IndianaPosts: 902 Senior Member
Government Lays Groundwork To Confiscate Your 401k and IRA, could this be true? This is the second time I have heard this mentioned in the past.
http://freedomoutpost.com/2014/02/government-lays-groundwork-confiscate-401k-ira-happening/

From the White House Blog:
myRA: Helping Millions of Americans Save for Retirement
http://www.whitehouse.gov/blog/2014/02/11/myra-helping-millions-americans-save-retirement

Read more at: "My, oh myRA, what a misguided bureaucratic mess this will be"
http://www.cnbc.com/id/101396252

I have heard several say this is why to buy gold. As often you hear about Income Equity mentioned and Wealth redistribution it seems to me this is Obama's first step. More change you can believe in.

Replies

  • Make_My_DayMake_My_Day Senior Member Lake County, FloridaPosts: 7,927 Senior Member
    One of the lies they will try to promote on this myRA is they offer "guaranteed income" from your investment. There is no such thing in the real world. If their fund actually loses money, the difference will be made up by the taxpayer so that they can fulfill their promise of profits in a losing market. This is nothing more than Social Security #2.
    JOE MCCARTHY WAS RIGHT:
    THE DEMOCRATS ARE THE NEW COMMUNISTS!
  • USUFBUSUFB Senior Member Posts: 830 Senior Member
    One of the lies they will try to promote on this myRA is they offer "guaranteed income" from your investment. There is no such thing in the real world. If their fund actually loses money, the difference will be made up by the taxpayer so that they can fulfill their promise of profits in a losing market. This is nothing more than Social Security #2.

    Obama (and Democrats) got me "free" healthcare. Now Obama (and Democrats) got me a savings account when those evil rich guys wouldn't let me start one. I'm voting Democrat the rest of my life!
    Sometimes, I lie awake in bed at night wondering "Why the heck can't I fall asleep?"
    NRA Life Member
  • sgtrock21sgtrock21 Senior Member Posts: 1,933 Senior Member
    One of the lies they will try to promote on this myRA is they offer "guaranteed income" from your investment. There is no such thing in the real world. If their fund actually loses money, the difference will be made up by the taxpayer so that they can fulfill their promise of profits in a losing market. This is nothing more than Social Security #2.
    Buy my gold at insanely inflated prices! I guarantee it will triple in value every year! Seriously. What is gold really good for? It would make excellent salt water boat anchors. It's heavy and does not corrode. It would even make good bullets which would be more valuable than Kugerands if everything goes to ****!
  • roadkingroadking Senior Member NEPA Near Lake WallenpaupackPosts: 3,056 Senior Member
    Does anyone really have any faith in this admin? The corruption seems endless. And, yes, it's a way for them to redistribute the wealth.
    Makes me sicker by the day.

    Matt
    Support your local Scouts!
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